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Azerbaijan, Russia agreed on seasonal gas swap

The effective period of the contract is set forth until 2023

BAKU, July 27. /TASS/. Azerbaijan and Russia agreed to cooperate in seasonal natural gas swaps. The relevant contract was signed between Azercontract and Gazprom, the Azerbaijani news agency Report said on Tuesday.

"The contract provides for gas supplies from Azerbaijan to Russia in summer season and similar gas volumes in winter season from Russia to Azerbaijan. Its effective period is set forth until 2023," the agency said.

According to Azercontract, supplies will depend on the gas production and consumption level in Azerbaijan in summer months. The State Oil Company of Azerbaijan Republic (SOCAR) will deal with technical implementation of the contract as regards intake and shipment of products from Azerbaijan.